Presidential Memorandum for the Secretary of State, the Secretary of Treasury, and the Secretary of Energy

MEMORANDUM FOR THE SECRETARY OF STATE
THE SECRETARY OF THE TREASURY
THE SECRETARY OF ENERGY

SUBJECT: Presidential Determination Pursuant to Section 1245(d)(4)(B) and (C) of the National Defense Authorization Act for Fiscal Year 2012

By the authority vested in me as President by the Constitution and the laws of the United States, after carefully considering the reports submitted to the Congress by the Energy Information Administration, including the report submitted April 11, 2017, and other relevant factors such as global economic conditions, increased oil production by certain countries, the level of spare petroleum production capacity, and the availability of strategic reserves, I determine, pursuant to section 1245(d)(4)(B) and (C) of the National Defense Authorization Act for Fiscal Year 2012, Public Law 112-81, and consistent with prior determinations, that there is a sufficient supply of petroleum and petroleum products from countries other than Iran to permit a significant reduction in the volume of petroleum and petroleum products purchased from Iran by or through foreign financial institutions. As my Administration conducts a review of its Iran policy, and consistent with United States commitments specified in the Joint Comprehensive Plan of Action, however, the United States is not pursuing efforts to reduce Iran’s sales of crude oil at this time.

I will continue to monitor this situation closely.

The Secretary of State is authorized and directed to publish this determination in the Federal Register.